Adani Enterprises shares jump as airport unit enters into $1 billion fundraising deal
The investors will subscribe to new shares in three tranches and collectively own about 5.54% of the airport operator after the final tranche.
TL;DR
- Adani Enterprises shares rose nearly 5% following the announcement of a $1 billion fundraising deal by its airport unit.
- Adani Airport Holdings entered into a binding agreement with Alpha Wave Global, Premji Invest, Temasek, and BlackRock managed funds.
- The deal values Adani Airport Holdings at approximately $18 billion on a pre-money basis.
- Investors will collectively own about 5.54% of the airport operator after the final tranche, expected by July 2027.
- Funds will support infrastructure expansion, city-side developments, and non-aeronautical businesses, aiming to boost annual passenger capacity to 200 million.
- Adani Airport Holdings currently manages eight airports in India, handling over 23% of the country's passenger traffic.